Siemens Gamesa Renewable Energy holds its first Shareholders General Meeting

The shareholders also approved the change in the company's year-end and name. From now on, it will officially be called Siemens Gamesa Renewable Energy

Markus highlighted the fact that Siemens Gamesa's ties with the Basque region and Navarra extend to a very solid network of suppliers that will remain intact

Today in Zamudio (Vizcaya, Spain), Siemens Gamesa held its first Shareholders
General Meeting since creation of the new company deriving from the merger
between Gamesa and Siemens Wind Power, which closed last April.

Among the agenda items approved, Siemens Gamesa's shareholders
ratified the appointment of Markus Tacke as the new chief executive officer
(CEO).

"I also regard it as a great honour and privilege to be here with
all of you for the 2017 Shareholders' General Meeting. Not only is it the first
shareholders' meeting for our newly-merged company, it is also my first
opportunity to speak directly with all of you", said Markus during his
speech, going on to underline,

"The merger creating our company took place at precisely the right
time. It gives us size and scale. Our objective, as I've said before, is not
only to ‘compete' in today's competitive industry environment, but to win! We are
now perfectly positioned to do that".

During his speech, the new CEO overviewed Siemens Gamesa's goals and
priorities: firstly, guaranteeing business continuity so as to uphold the
customer service standards for which it is known; secondly, ensuring a quick
and smooth integration; and lastly, winning new business while maintaining
profitability.

To achieve these goals, Markus stressed that the company boasts "a
very strong global presence, underpinned by solid relationships with customers
around the world and a broad global manufacturing footprint. We have some of
the most reliable and efficient products in the industry. We have an installed
base of 75 gigawatts, and a strong order book of 21 billion euros. And most
importantly, we have a superb team of highly motivated and talented
employees".

Rosa
García, meanwhile, Chairwoman of the recently-appointed Board of Directors,
sought to highlight the fact that the merger between Gamesa and Siemens Wind
Power is much more than the sum of its parts. "The marriage of our
strengths makes us a benchmark player with global reach; underpinned by our
successful track records, we are guaranteed a leading role in shaping the
energy landscape of the future".

She went on to explain that the highly complementary nature of the
two companies, in terms of both geographical footprints and product and service
portfolios, coupled with the commitment of the team and employees,
"enables us to offer our customers a competitive proposition. These same
strengths allow us to maximise value creation for you, our shareholders, and
for the communities in which we operate, making us a better company to work at,
one which generates wealth and jobs".

Strategically committed to
the Basque region and Navarra

Markus also stressed the importance of Siemens Gamesa's roots in the
Basque region, where Gamesa was founded, and Navarra, where it continues to
have a strong presence. "These roots do not only apply to our own organization,
but also to a very strong and growing network of Spanish suppliers. This has
always been the case, and this will not change", adding that "for any
organization to grow and expand throughout the world, strong roots are
essential".

Rosa García, Chairwoman of the Board of Directors of Siemens Gamesa,
similarly highlighted the new company's "close ties" to Spain, particularly the
Basque region and Navarra, where Siemens Gamesa has its head offices, noting
that, "the merger will allow us to go
further in a shorter period of time, and without renouncing our roots or our
core tenets".

Resolutions carried

The shareholders also gave their approval for the change in the name
of the company, which will now officially be known as Siemens Gamesa Renewable
Energy, as well as granting greater flexibility regarding the the General
Meeting venue: given the new company's size, it will be possible to organise
the event in Zamudio or Bilbao in the future.

Other items ratified included the change in the company's fiscal
year (it will now begin on 1 October and end on 30 September) and the payment
of a cash dividend against 2016 profits of €0.11058 per share (payable from 5
July 2017). The shareholders also approved the 2016 financial statements and
discharged the company's management for the year.

Lastly, the appointments of Luis Javier Cortés Domínguez as
independent director, Michael Sen as proprietary director and Carlos
Rodríguez-Quiroga as executive director were also approved.